SACRAMENTO — The California Legislature approved a major tax break for small businesses on Monday, voting to give up as much as $6.8 billion in revenue over the next six years so that struggling business owners can have smaller bills. The federal government loaned more than $97 billion to California...
Trump Pitches Payroll Tax Relief to Wary Lawmakers
WASHINGTON — President Donald Trump pitched his proposed payroll tax break Tuesday on Capitol Hill as pressure mounts on the administration and Congress to work more vigorously to contain the coronavirus outbreak and respond to the financial fallout. Trump's economic team joined in presenting the economic stimulus package privately to...
Walters: Old Tax Loopholes Live Again
Everything old is new again, at least when it comes to punching loopholes in state tax laws to benefit corporate interests. As noted in a recent column, legislation is moving to re-establish “redevelopment” in California cities, albeit with a new name, just a few years after the program was eliminated. It’s...
Walters: Old Tax Loopholes Live Again
Everything old is new again, at least when it comes to punching loopholes in state tax laws to benefit corporate interests. As noted in a recent column, legislation is moving to re-establish “redevelopment” in California cities, albeit with a new name, just a few years after the program was eliminated. It’s...
Walters: Old Tax Loopholes Live Again
Everything old is new again, at least when it comes to punching loopholes in state tax laws to benefit corporate interests. As noted in a recent column, legislation is moving to re-establish “redevelopment” in California cities, albeit with a new name, just a few years after the program was eliminated. It’s...
Why States, Cities Should Stop Giving Companies Tax Breaks
U.S. states and cities hand out tens of billions in taxpayer dollars every year to companies as economic incentives. These businesses are supposed to use the money, typically distributed through economic development programs, to open new facilities, create jobs and generate tax revenue. But all too often that’s not what happens, as I’ve learned after...